Rio Tinto is taking the knife to capital investment for the second time in four months, slashing another $US1.5 billion over two years, as iron ore prices plunged below $US40 a tonne.
But chief executive Sam Walsh insists the iron ore industry is "sowing the seeds of recovery right now" and iron ore will bounce back as the price rout continues to push high cost production out of the market.
Rio's latest round of capital spending cuts on Tuesday follows a $US2.5 billion reduction over two years in August, and brings the miner's annual spend to about $US5 billion in calendar 2015 and 2016. It marks the third time Rio has cut its capex guidance this year.
The cuts will help shore up Rio's balance sheet amid the iron ore price collapse, and cover its $US4.1 billion annual dividend payout.
Nenhum comentário:
Postar um comentário